'Realignment of foreign trade strategy necessary'

Kolkata, Aug 11: With the dynamics of global trade and opportunities provided by the multilateral trading platform, a continuous realignment of the foreign trade strategies is necessary, Commerce and Industry Minister Kamal Nath said today.

The foreign trade policy plays an important role and provides a roadmap to render Indian companies to be globally competitive and simultaneously aim at giving Indian consumers world class products and services, Nath said while inaugurating the Kolkata campus of Indian Institute of Foreign Trade (IIFT).

India has tremendous potential and Indian Institute of Foreign Trade (IIFT) with an expertise in the field of international business is preparing a cadre of management professionals to realise the potential, he said adding that the curriculum aims at preparing industry leaders with a strong sense of ethics and social responsibility.

West Bengal Chief Minister Buddhadeb Bhattacharjee said the IIFT Kolkata could provide platform for key research, training and consultancy pertaining to the east. The state government has alloted the plot of land for IIFT campus in south Kolkata near Ruby Hospital. Bhattacharjee assured that the state government would co-ordinate in setting up the world class institution.

IIFT director Prabir Sengupta said with global economic activities shifting eastward, it is necessary to understand the issues, challenges and opportunities in the changed context.

IIFT has focussed on these issues and with its expertise in the field of international business the institute could provide valuable inputs to the local chambers, trade and government bodies in the eastern region, he added.

UNI